XRP Project 2019, P01, E01, A little more to go

This will be my first XRP Analysis as it looking good soon.

Observations:
1) Very Symmetrical, aligned with Fib. Levels.

2) On the Daily chart:
> decline in volume, squeeze is happening
> RSI declining % level and seems within a resistance line as indicated on the chart
> Bounced off major fib. levels within a downward wedge channel, approach major support
> Is heading towards 55 EMA (green) and 100 EMA (orange)
> ASX and DI indicating more downwards direction
> MACD indicating more downwards direction

3) On the 4 Hrly chart:
> decline in volume
> RSI level previous high in the channel as per other fib. levels and hence a resistance line as indicated on the chart (green horizontal line)
> Bounced off major fib. levels within a downward wedge channel, approach major support (green line)
> The 10 and 20 EMA acting as support and the 200 as resistance
** If the current red candle stick stays above the 10 and 20 EMA, we might see a break out from the channel.
> ASX and DI indicating more downwards direction
> MACD indicating more downwards direction

Conclusion:
Likely for further drop to the next fib. level or EMA support as on the daily and creating a bounce as per other times in the channel.
As per the chart, I see at this point a likely scenario for an uptrend.


DAILY Chart:

4 HRLY Chart:

2 HRLY Chart:

Transaction en cours:

The bears are trying to push bitcoin below 8200. Having said that, an updated view on XRP.
4 HRLY chart update

4 HRLY XRP/BTC pairing chart

Commentaire:

also BTC dominance is pulling back after gains on BTC (will consolidate for a while before the next up move). Usually this is when ALTs do their thing.

Commentaire:

Trade fermée: cible de profit atteinte:

Current status

Commentaire: